A Dublin judge ordered that former Anglo Irish Bank Corp. Chairman Sean Fitzpatrick be acquitted on some charges that he allowed unlawful loans in 2008 to clients so that they could purchase shares in the now-defunct lender.
Ireland’s bad bank hired receivers to some companies controlled by Garrett Kelleher, a developer who borrowed from the nation’s lenders for a building spree that was to include North America’s tallest building in Chicago.
Ireland’s state-owned bad bank agreed to buy Royal Bank of Scotland Group Plc and KBC Groep NV loans to Ireland’s largest shopping mall, its first purchase of debt that didn’t belong to the country’s bailed-out lenders, people familiar with the matter said.
A former top Irish bank regulator said while he was “positively disposed” toward Anglo Irish Bank Corp.’s efforts to unwind a derivatives position which threatened to bring it down, he wasn’t acting as a cheerleader for the lender.
Lone Star Funds, a U.S. private- equity firm, won an auction to purchase almost all of the former Anglo Irish Bank Corp.’s 6.3 billion-pound ($10.5 billion) U.K. loan book, two people with knowledge of the matter said.